Ok, I might support getting that proposal into voting. While I personally have no problem with remuneration I see cutting remuneration would save money in the short term.
What would the proposal be exactly? Would it be cutting the BOD remuneration limit of $800,000? This limit is for non-executive directors only. Would you support cutting that level to $300,000 because of the bad financial performance Troy recently had? How would you make sure cutting non-executive director remuneration would not lead to directors demanding a limit of let's say $1,500,000 once financial conditions get better due to OC production, i.e. cashflow increasing five-fold? How would the proposal to lower the limit to $300,000 save capital when actual non-director compensation was $284,300 vs the limit of $800000? How could we avoid a situation where touching the limit now would in effect make no difference whatsoever but create a condition where non-executive directors will demand a way higher limit due to good financial performance down the road?
TRY Price at posting:
8.4¢ Sentiment: Buy Disclosure: Held